2019 vs. 2018 Boise Idaho Home Sales ~ First Half Comparisons
Available Listings
- 2018: 1,469
- 2019: 1,737
- % Change: +18.2%
Pending Sales
- 2018: 1,847
- 2019: 1,745
- % Change: -5.5%
Closed Sales (YTD)
- 2018: 5,642
- 2019: 5,511
- % Change: -2.3%
Average Sales Price (on 7/1)
- 2018: $368,995
- 2019: $402,777
- % Change: +9.2%
Median Sales Price (on 7/1)
- 2018: $324,147
- 2019: $353,500
- % Change: +9.1%
Commentary
- If current trends continue in the second half of this year, we will close around 11,000 sales in 2019 (a decline of about 5%).
- We could sell more homes if we had them.
- One-third of all Ada County home sales are new homes now.
- Our builders are building spec homes, with no selections allowed in most instances, and often selling them before completion.
- Our builders are unable to build fast enough to meet demand.
- Many potential sellers are reluctant to sell without first securing another home, which exacerbates our shortage of listing inventory.
- Most builders will not accept an offer contingent upon selling another home, which also contributes to our shortage of listing inventory.
- Many (most?) of our buyers are from other states, leaving us vulnerable if those markets weaken.
- We are not in a bubble, our market is driven by strong demand vs. inadequate supply of homes.
Data pertains to Ada County single-family homes on lot or acreage.
Data does not include condo or townhome properties.
Date range = 7/1/18 through 6/30/19
Boise Idaho Community Information
